The Japanese yen has fallen to around 160 yen

The yen continues to be shorted in the foreign exchange market.

The yen fell to the 160 yen level against the US dollar on March 28th (Singapore time), severely impacting the Japanese economy.

160 yen is the warning line for Japanese government intervention in the foreign exchange market in 2024. Will the Japanese government also take action to buy yen today?

On March 27th, the yen depreciated to 160.40 yen against the US dollar. After the Iran-Iraq War, the yen’s exchange rate against the US dollar was around 156 yen, approaching 160 yen.

The main reason for the yen’s depreciation is the buying of US dollars; global funds are buying US dollars.

The yen’s depreciation has already unsettled the Japanese economic community.